“Polls over the last few days have shown clearly that the general public believe MPs should be able to vote how they like regarding an EU referendum.”

But Mr Cameron insisted voting to leave Europe at a time of financial crisis would be like deserting your neighbours when their houses are on fire when you should be helping and stopping it from spreading to your home.

Foreign Secretary William Hague told MPs a referendum on our future in Europe was the “wrong question at the wrong time”.

With the euro in meltdown, and Britain having to stump up billions to keep it afloat, the row looks set to drag on.

After the economy, it could turn out to be one of the biggest issues to dog Mr Cameron’s premiership.